Pune real estate market reported a 33% year-on-year (YoY) decline in property registrations that stood at 11,056 in September 2024 compared to 16,604 in September 2023. The month-on-month property registrations fell by 17% from 13,397 in August 2024, according to data collated by the Maharashtra government’s Department of Registrations and Stamps – the Inspector General of Registration and Controller of Stamp (IGR). Property registrations witnessed a decline of 26% in the last four months between May to August compared to the first four months of 2024 between January to April, according to the Maharashtra IGR data.
Along with property registrations, Pune real estate market also reported a dip in stamp duty collections. In September 2024, stamp duty collections touched ₹ 508 crore against ₹ 585 crore collected in September 2023. Collections were at ₹ 592 crore in August 2024, the data showed.
However, compared to the property registration data of 2022 and 2023, the total number of units registered in 2024 were higher, according to Knight Frank India’s analysis. In the first nine months of 2024, as many as 1.38 lakh properties were registered in Pune, compared to 1.
07 lakh during the same period in 2023 and 1 lakh units in 2022, the data showed. Also Read: In Mumbai you may earn an annual income of ₹ 4.5 lakh but pay ₹ 5.
18 lakh as rent for a 1BHK “Pune’s real estate market continues to thrive and factors such as rising incomes, positive consumer sentiment, .